Coinbase Global (NASDAQ:COIN) Director Sells $2,546,197.68 in Stock

by · The Markets Daily

Coinbase Global, Inc. (NASDAQ:COIN) Director Marc Andreessen sold 13,676 shares of Coinbase Global stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $186.18, for a total value of $2,546,197.68. Following the completion of the sale, the director owned 1,115,810 shares of the company’s stock, valued at approximately $207,741,505.80. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Price Performance

Shares of COIN opened at $178.45 on Thursday. Coinbase Global, Inc. has a 52-week low of $139.11 and a 52-week high of $402.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The business’s 50 day moving average price is $174.50 and its two-hundred day moving average price is $175.31. The firm has a market cap of $47.08 billion, a PE ratio of -46.47 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.Coinbase Global’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.14 earnings per share. On average, equities analysts anticipate that Coinbase Global, Inc. will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Elevation Wealth Partners LLC boosted its stake in Coinbase Global by 583.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 3,022 shares of the cryptocurrency exchange’s stock valued at $563,000 after purchasing an additional 2,580 shares during the last quarter. American National Bank & Trust lifted its holdings in shares of Coinbase Global by 50.9% in the third quarter. American National Bank & Trust now owns 1,925 shares of the cryptocurrency exchange’s stock valued at $359,000 after purchasing an additional 649 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Coinbase Global by 451.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,519 shares of the cryptocurrency exchange’s stock valued at $470,000 after purchasing an additional 2,062 shares in the last quarter. CX Institutional boosted its position in shares of Coinbase Global by 167.9% during the third quarter. CX Institutional now owns 4,348 shares of the cryptocurrency exchange’s stock valued at $811,000 after buying an additional 2,725 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Coinbase Global by 26.0% during the second quarter. QRG Capital Management Inc. now owns 30,358 shares of the cryptocurrency exchange’s stock valued at $4,605,000 after buying an additional 6,256 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on COIN shares. Argus reaffirmed a “hold” rating on shares of Coinbase Global in a research report on Wednesday, August 26th. BTIG Research reissued a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research note on Wednesday. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. Keefe, Bruyette & Woods initiated coverage on Coinbase Global in a research report on Monday, September 28th. They set an “outperform” rating and a $237.00 target price on the stock. Finally, Zacks Research upgraded Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Twenty research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $225.44.

Check Out Our Latest Analysis on Coinbase Global

More Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

  • Positive Sentiment: Deribit integration expands derivatives access: Coinbase completed its integration with Deribit, giving eligible U.S. customers regulated access to global options and perpetual-futures liquidity. Because derivatives represent a large share of crypto trading activity, the move could increase institutional volume and fee revenue. Coinbase also plans to bring back the Coinbase Pro brand with expanded spot, margin, derivatives and equities capabilities. Deribit integration article
  • Positive Sentiment: Stablecoin growth supports the long-term outlook: Record USDC balances and wider stablecoin adoption could create recurring revenue opportunities across payments, custody, lending, trading and Coinbase’s Base network. USDC adoption article
  • Positive Sentiment: Analyst support remains substantial: BTIG reaffirmed its Buy rating and set a $240 price target, implying meaningful upside from current levels. Coinbase’s CFTC-regulated derivatives access and improving regulatory clarity are also viewed as catalysts for institutional adoption.
  • Neutral Sentiment: Wall Street remains divided: Goldman Sachs sees further upside potential, while Barclays reportedly estimates significant downside, highlighting uncertainty around crypto volumes, valuation and earnings volatility. Analyst views article
  • Neutral Sentiment: Government crypto transfers are not confirmed sales: U.S. government-linked wallets moved Bitcoin to Coinbase Prime, potentially supporting custody or trading activity, but the transfers may relate to custody or court-ordered restitution rather than selling. Government crypto transfer article
  • Negative Sentiment: Crypto-market weakness is the main pressure: Bitcoin and crypto-related equities are retreating amid a broader “perfect storm,” reducing near-term trading enthusiasm and potentially Coinbase’s transaction revenue. Crypto market weakness article
  • Negative Sentiment: Insider selling adds a modest overhang: Director Marc Andreessen sold shares under a pre-arranged Rule 10b5-1 plan, though he retained a substantial position. Insider sale article

Coinbase Global Company Profile

(Get Free Report)

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.

Further Reading